TH Real Estate, TPG Real Estate and Partners Group have created a new fund, which will focus on opportunistic and value added investments in the retail segment in Italy, Spain and Portugal.

The initial capital for the fund, which is called “Southern European Value-add Mandate” or Seva, comprises three retail assets located in Spain and Italy, worth more than €250 million. The fund will be managed from TH Real Estate’s offices in Madrid.

“This opportunistic and value added joint venture is looking for other assets that may benefit from remodelling, reconfiguration and brand renovation to offer greater value”, explained the Director of TH Real Estate for the Iberian Peninsula, Marta Cladera de Codina (pictured above).